☰

M. Continuo

French lower house of parliament approves first part of 2015 budget


    PARIS (Reuters) - France's lower house of parliament approved the revenues portion of the 2015 budget bill on Tuesday by 266 votes to 245, in the first step of passage of a budget that fails to respect EU deficit limits.

    France sent its 2015 budget that breaches its deficit reduction commitments to the European Commission for review last week, hoping that Brussels will overlook the overshoot due to weak economic growth and inflation.

    Rebel voices on the left in the National Assembly have threatened to thwart the safe passage of key legislation, such as the budget, representing a challenge for Prime Minister Manuel Valls, who narrowly won a confidence vote last month. They argued it was already too austere in terms of fiscal cuts.

    The Senate will review the first part of the bill beginning on Nov. 20, with a final vote in the Assembly expected around Dec. 20.

    (Reporting By Emile Picy, Writing by Alexandria Sage; editing by Mark John)